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Transnet's capital investment reaches record high

By unknown | Jun 27, 2007 | COMMENTS [ 0 ]

Nicole Rego

Nicole Rego

South African freight transport and logistics company Transnet said yesterday that it had hit an historical high in terms of investment.

"For the financial year under review, we have doubled our capital investment and have spent R11,7 billion. That is the highest in terms of investment for this company," said group chief executive Maria Ramos.

She said that R 8,2 billion was spent on the replacement of assets and R3,5 billion was for expansion investments.

Some major projects have already commenced and others will begin soon.

During the next five years, Transnet will spend, in accordance with the corporate plan, R9,3billion on the multi-product pipeline from Durban to Johannesburg and R2,6billion on the widening and deepening of the entrance channel at the Port of Durban.

Other projects include the Ngqura container terminal (R6,1billion excluding the rail link) already under construction, the coal line capacity expansion (R3,3billion) and iron ore line expansion (R3,8billion). A total of 404 new locomotives at a cost of R4,9billion will also be purchased. - I-Net Bridge


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